The Ultimate Guide to BAS Lodgement: Everything You Need to Know
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The Ultimate Guide to BAS Lodgement: Everything You Need to Know

Introduction Business Activity Statements (BAS) are essential for businesses registered for GST in Australia. They help report and pay various taxes, including goods and services tax (GST), pay-as-you-go (PAYG) installments, PAYG withholding tax, and other taxes. This guide provides a comprehensive overview of BAS lodgement, including what BAS is, how to lodge it, and the...

Trusts in Australia You Need to Know: A Comprehensive Guide
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Trusts in Australia You Need to Know: A Comprehensive Guide

Trusts are an essential part of financial planning and asset management in Australia. This guide will explore the different types of trusts, and their key components, and provide examples to help you understand how they might apply to your situation. What is a Trust? A trust is a legal entity where one party (the Trustee)...

‘Aggressive’ The ATO prioritizes directors for tax debts.
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‘Aggressive’ The ATO prioritizes directors for tax debts.

According to Melbourne-based expert Tax Assure, the number of businesses in a tax debt crisis has risen since last year, and the ATO has altered its strategy to target directors directly. The average tax debt had risen in just a year, according to Olga Koskie, founder of Tax Assure, and the ATO had become more...

Summary Comparison: Xero, QuickBooks, MYOB
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Summary Comparison: Xero, QuickBooks, MYOB

Feature Xero QuickBooks MYOB Pages Loading Speed Great Good Good Reporting Excellent – Overall Good – But Payroll Reporting is exceptional Good Payroll Very Easy Can be Tricky Can be Tricky Setting Up Employees Very Easy Can be Tricky Can be Tricky STP Lodgement Very Easy Easy Can be Tricky Bug-Free Experience Excellent Not Great...

Understanding the Role of Tax Consultants in Australia
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Understanding the Role of Tax Consultants in Australia

Introduction Tax consultants, also known as tax advisors, play a vital role in the Australian financial landscape. They are professionals who specialize in providing tax-related services to individuals and businesses. This blog post explores their key roles, responsibilities, and the benefits of engaging in their services. Roles and Responsibilities Benefits of Hiring a Tax Consultant...

Boost Your Business with Temporary Additional Deductions
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Boost Your Business with Temporary Additional Deductions

1) Skills and Training Boost Type of Deduction: Bonus 20% deduction on eligible external training expenditure for employees. Eligibility: Small and medium businesses; must be for employees’ external training by a non-associated registered provider. Duration: From 7:30 pm (AEDT) on 29 March 2022 until 30 June 2024. What Can Be Claimed: External training expenditure for...